Industry News

India’s largest multinational flexible packaging materials company Uflex Limited announced earnings for its third quarter ended 31 December 2016.

Total Consolidated Revenue for Q3 FY 2016-17 stood at Rs. 1498Crore as compared to Rs. 1495Crore for the same period in the last fiscal. At operational level the Consolidated EBITDA for the quarter ended 31 Dec. stood at Rs. 212Crore registering a growth of 7% with respect to the previous financial year when it was Rs. 198Crore. The Consolidated Net Profit for Q3 FY 2016-17 has been Rs. 74 Crore as opposed to Rs. 79Crore for the same period in the preceding fiscal down by 6.9%.

For the first nine months of FY 2016-17, the company reported a 7.2% (Y-O-Y) increase in the Consolidated Net Profit which stood at INR 250Crore. Consolidated EBIDTA during the same period has been reported at INR 672 Crore registering a Y-O-Y growth of 5.4%.The Total Revenue for nine months ended 31 December 2016 has been Rs. 4555Crore down by 1% from the year before when it was recorded at Rs. 4602 Crore.

Commenting about the financial numbers, R.K. Jain, group president (Corp. F & A), Uflex Ltd., says, “While the Y-O-Y revenue growth for both quarter and nine months ended 31 December 2016 has remained muted but the sales volume have grown by 9% and 8% respectively.

Given our well spread product portfolio of films and fully integrated, value-added, flexible packaging solutions both in India and overseas, we are very hopeful of achieving much better results in the ensuing quarter.”